The top ten home builders in 2009, based on annual earnings, was published in a recent report from eConsultant.com. The top ten home builders are as follows:
1. Centex – $8.41 billion – Centex Corporation (NYSE: CTX) was founded in 1950 and is headquartered in Dallas, Texas. Tim Eller is the CEO and president and Centex Corp. employed 6,530 people in 2008.
2. D.R. Horton – $6.65 billion – D.R. Horton (NYSE: DHI) was founded in 1978 and is headquartered in Fort Worth, Texas. Donald R. Horton is the founder and chairman, Donald J. Tomnitz is CEO and president.
3. Pulte Homes – $6.29 billion – Pulte Homes (NYSE: PHM) was founded in 1950 and is headquartered in Bloomfield Hills, Michigan. William J. Pulte is the founder and Richard J. Dugas is the CEO. Pulte employed 13,400 people in 2006.
4. Lennar – $4.58 billion- Lennar Corporation (NYSE: LEN) was founded in the 1950s and is headquartered in Miami, Florida. Stuart Miller is the president and CEO. Lennar’s homes are currently found in 17 states.
5. NVR – $3.71 Billion – NVR Incorporated (NYSE: NVR) was founded in 1980 and is headquartered in Reston, Virginia. Paul C. Saville is president and CEO and employs roughly 5,400 people.
6. K. Hovnanian Homes – $3.31 billion – Hovnanian Enterprises (NYSE: HOV) was founded in 1950 by Kevork S. Hovnanian and is currently headquartered in Red Bank, New Jersey. Ara K. Hovnanian is CEO and president. In 2008, Hovnanian Enterprises employed 2,816 people.
7. Toll Brothers – $3.2 billion – Toll Brothers (NYSE: TOL) was founded in 1967 and is headquartered in Horsham, Pennsylvania. Robert I Toll is Chairman and CEO. In 2007, Toll Brothers employed 4,329 people.
8. KB Home – $3.03 billion – KB Home (NYSE: KBH) was founded in 1957 as Kaufman & Broad and is headquartered in Los Angeles, California. Jeffrey T. Mezger is president and CEO as of 2006.
9. Beazer Homes – $2.01 billion – Beazer Homes (NYSE: BZH) was founded in 1994 and is headquartered in Atlanta, Georgia. Ian McCarthy is president and CEO and Beazer Homes currently provides new homes in over 40 markets nationwide.
10. Ryland Homes -$1.98 billion – The Ryland Group, Inc. (NYSE: RYL) was founded in 1967 and is headquartered in Calabasas, California. The Ryland Group employees around 3,200 people.
It looks like this list will be changing a lot in the coming year. Home builders who planned ahead for the market downturn will be poised to grab market share. Cash is king in this market. With land prices down, new home builders with reserves are able to buy land at deep discounts. Improved margins will allow them to sell new homes at reduced prices in the future and stay ahead of the competition when conditions improve and land prices rise again.
San Diego Homes´s last blog ..MIA San Diego Foreclosure Properties
Great to see NVR up there at number 4 representing Reston Virginia